TRS SSP Employer FAQs
1. Where can we find the most recent TRS SSP plan document to be approved by our Boards of Education?
Here's the current SSP Plan Document. This is located on the SSP pages in the employer and member areas of the site. Additionally, the Supplemental Savings Plan Employer Participation Agreement, Authorized Contact Form and Resolution must be completed. Upload the completed form and Resolution by using the Secure Document Upload feature in the Employer Web Access area.
2. Are employers required to adopt the Plan?
All employers must comply with the reporting and administrative functions established by the System and are required to implement the benefits established under this Section.
3. Is there a deadline for employers to adopt the Plan?
All eligible employers must adopt the TRS SSP by Sept. 30, 2022. Eligible members are only able to enroll if their employer has adopted the Plan – a list can be found at Participating SSP Employers. The list is updated frequently with an “as of” date.
4. Are employees required to enroll, or is it optional?
Effective January 10, 2022, TRS implemented the TRS SSP with the option for all FT and PT contractual TRS members to enroll. When automatic enrollment is implemented at a later date, employees will be given an opportunity to opt out; it is an optional program.
5. How do eligible employees enroll in the SSP?
Eligible employees can enroll 24/7 at trsilssp.voya.com or weekdays from 7 a.m. to 7 p.m. CT via the TRS SSP Service Center at 844-877-4572 (844-TRS-457B).
6. How are employers notified when an employee enrolls or makes changes to existing SSP contribution(s)?
A comprehensive SSP Deferrals Report generates each time a change is made to an employee’s SSP elections and an email is notification is sent to the employer’s Reporting and Accounting contacts. The SSP Deferrals Report is available in the Gemini Employer Portal under TRS Reports.
7. How are SSP deferrals reported?
SSP deferrals must be submitted in the Gemini Employer Portal. You may use the File Upload or Data Entry (Replication) Process. Defined Contribution Reporting Procedures are found at Gemini Resources.
8. How are SSP payments processed?
SSP deferral payments will be pulled by Voya from the bank account on file in Gemini for Retirement Plan “All” or “Defined Contribution.” Submit the SSP (DC) Report in Gemini through the Payment step and the corresponding amount will be pulled via ACH during the daily post batch process. Banking Procedures are found at Gemini/Resources.
Employers may need to set up Voya as a vendor to process SSP payments. Select this link to view Voya’s W-9. Also, some employers need the Company ID for ACH Fraud Detection. The ACH Company ID to be used for the TRS SSP is 5555587807.
9. How should SSP employee contributions be reported in Box 12 of the W-2?
Box 12 depends on whether the contribution is Pre-tax or Roth. Code G should be entered for Pre-tax (03, 04, 05) and code EE for Roth contributions (06, 07, 08). TRS cannot provide tax advice, but additional information can be found at https://www.irs.gov/pub/irs-pdf/iw2w3.pdf.
10. How are SSP deferrals – new, existing, changes – handled during summer months?
- SSP Reporting and contributions are to be submitted when the employees’ payroll is paid (not processed).
- If the payroll closes in June, but isn’t paid until a later date, do not report the contributions in June, but according to the pay date.
- If the payrolls are paid in advance, the reporting and contributions should be completed upon payment, so deferrals can be invested timely once they are withheld from a participant’s paycheck.
- If summer payrolls are closed by a certain date, changes made following that date should be made as soon as administratively possible.
- TRS SSP should be included in the notice sent to employees, informing them that changes made after a certain date will not be processed until the first pay period in September (or whatever date you anticipate). If a member intends to enroll or make any changes, he/she should call the TRS SSP Service Center or use the TRS SSP website to make any changes prior to the cutoff and the employer should consider the latest SSP Deferrals Report when processing summer payrolls.
- If summer payrolls are put into a pending status, but not closed, changes should be made in the first payroll administratively possible following the Contribution Effective Date.
- Employers are welcome to encourage employees to make any changes prior to a cutoff date.
11. What are the annual maximum contribution amounts for each SSP Contribution Category?
This information can be found on the TRS employer area under Contributions Rates and Earnings Limitations. Contribution category codes are included within each section below. Limits will be updated annually.
12. Is the SSP deducted for all pay periods, even for a bi-weekly payroll schedule (26 pay periods)?
Yes, members enrolling in the SSP elect a per pay period deferral amount, which means the SSP deferral amount should be taken out of each of their normal scheduled pay periods. The deferral amount should not be deducted from any special pay or stipend, but should be deducted from all 26 scheduled pay periods.